!!! Overview
According to Apple; "[Touch ID] doesn't store any images of your [fingerprint]. [Touch ID] stores only a mathematical representation of your [fingerprint]. 

[{$pagename}] runs [SEPOS] ([{$pagename}]'S [Operating System] which is in [Firmware].[2]

It isn't possible for someone to reverse engineer your actual [fingerprint] image from this mathematical representation. 

The chip in your device also includes an advanced security architecture called the [{$pagename}] which was developed to protect [passcode] and [fingerprint] [data]. [Fingerprint] [data] is [encrypted] and protected with a key available only to the [{$pagename}]. [Fingerprint] [data] is used only by the [{$pagename}] to verify that your fingerprint matches the enrolled fingerprint data. The [{$pagename}] is walled off from the rest of the chip and the rest of [iOS]. Therefore, iOS and other apps never access your [fingerprint] [data]. [fingerprint] [data] is __never__ stored on [Apple] servers, and it's never backed up to [iCloud] or anywhere else. Only [Touch ID] uses it, and it can't be used to match against other fingerprint databases."[2]

[{$pagename}] has Dedicated I/O lines to:
* [GPIO]
* SPI
* [UART]
* [I2C]

[{$pagename}] uses [AES] to [encrypt] External [RAM] Segment encryption configured in bootrom[{$pagename}] may be considered a [Roots of Trust]

!! What is [{$pagename}]?
Our conclusion, based on this and other readings, is that the [{$pagename}] is probably enforced by [ARM's TrustZone|http://www.arm.com/products/processors/technologies/trustzone/index.php|target='_blank'] technology. ARM's TrustZone is based on the [Trusted Execution Environment] or [TEE] and is considered a [Secure Element] by [GlobalPlatform]

From most perspectives, [{$pagename}] is a [Secure Element]!! More Information
There might be more information for this subject on one of the following:
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* [#1] - [Apple details secure 'touchless' e-wallet strategy in patent filing|http://appleinsider.com/articles/14/01/16/apple-details-secure-over-the-air-e-wallet-strategy-in-patent-filing|target='_blank'] - based on information obtained 2015-02-21
* [#2] - [APPLE’S SECURE ENCLAVE PROCESSOR (SEP) FIRMWARE DECRYPTED|https://hackaday.com/2017/08/18/apples-secure-enclave-processor-sep-firmware-decyrpted/|target='_blank'] - based on information obtained 2017-12-08-